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Key takeaways. CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through ...
The U.S. Department of Education selected Sallie Mae in 2009 to service federal loans on its behalf. [ 10 ] In 2010, Congress passed the Health Care and Education Reconciliation Act of 2010 , which eliminated the federally guaranteed loan program known as Federal Family Education Loan Program (FFELP) , under which banks and companies like ...
The Virginia Department of Education is the state education agency of the Commonwealth of Virginia.It is headquartered in the James Monroe Building in Richmond. [1] The department is headed by the Secretary of Education (currently Aimee Guidera), who is a member of the Virginia Governor's Cabinet, and the Superintendent of Public Instruction (currently Lisa Coons), a position that is also ...
Each year Federal Student Aid's staff processes approximately 22 million FAFSAs. Additionally, Federal Student Aid is responsible for enforcing the financial aid rules and regulations required by the Higher Education Act of 1965 and the U.S. Department of Education and managing the outstanding federal student loan portfolio.
Around 44% of federal student loan borrowers who begin repayment in October have a new loan service provider, according to the Consumer Financial Protection Bureau, after three loan service ...
There were around 7.5 million federal student loan borrowers in default, the Education Department said in 2022, when it launched its mulligan program. That grim figure led to comparisons with the ...
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
The Department of Education similarly got in on the act, purchasing $4.7 billion of the federal loans. ... looking for your Citibank student loan login, phone number or address, you should instead ...